As someone who has spent two decades guiding retirement plan sponsors, fixing broken fiduciary processes, and protecting plan participants from ill-conceived ideas, I’ve seen many trends come and go in the 401(k) space. Some are helpful innovations, like auto-enrollment and fee transparency. Others are fads—often wrapped in glossy marketing but hollow on the fiduciary front. And right now, the latest glittering distraction is offering Bitcoin and other cryptocurrencies in 401(k) plans. Let me be clear: putting Bitcoin in a 401(k) plan is a bad idea. It’s not just bad from a fiduciary standpoint. It’s reckless. It’s a lawsuit waiting to happen. And it betrays the fundamental purpose of a retirement plan, helping American workers retire with dignity, not roll the dice on digital speculation.
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